IPO Pace Is Slowing Down

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By Paul Ausick Updated Published
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We previewed three initial public offerings (IPO) scheduled to begin trading last week, but we got fooled. Two, which had already been postponed at least once, were joined by the third and none made it out the door. One firm we didn’t preview last week, Lombard Medical Inc. (NASDAQ: EVAR), did begin trading on Friday after pricing 5 million shares at $11 a share on Thursday. Its shares closed down 9% at $10 on its first day of trading.

In the coming week, we are aware of just three potential IPOs:

Aldeyra Therapeutics Inc. is a holdover from last week. The company plans to offer 1.2 million shares in a price range of $10 to $12. Aegis Capital is the underwriter of the offering which is expected to price on Thursday and begin trading on Friday. Shares will trade on the Nasdaq under the ticker symbol “ALDX”.

Ares Management LP is a global asset management firm with approximately $74 billion in assets under management. The company expects to offer 18.2 million common units in a price range of $21 to $23. About 6.8 million units are being offered by one selling unitholder, a subsidiary of the Abu Dhabi Investment Authority. Shares are expected to price on Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol “ARES”.

Papa Murphy’s Holdings Inc. is a pizza store operator and franchisor. The company plans to offer 5.8 million shares in an expected price range of $11 to $13. Shares are expected to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol “FRSH”.

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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